Don't Be Fooled By A Market That's Cruel by WSH 4/3/00 11:00 AM PST
This Nasdaq is as cruel as ever. The bears are on top of the hill and they are growling. Fear is sweeping through the hearts and minds of all those investors who margined themselves in stocks like BVSN and BEAS. Reality is setting in.
All too often, investors become swept up in the moment. People seem to forget how far the Nasdaq has come in the past few months. It was inevitable that we would see a correction of this magnitude. There is one fact that remains - although the tech companies prices have changed, their fundamentals have not. Although IWOV is now trading below 100, companies like GE will still require IWOV's software to meet their IT needs. Although CMRC is trading below 150, companies cannot deny the cost savings brought about when using their services. What we have to find, is a level where perception and reality converge in a rational manner.
Don't be fooled by a market that's cruel. Corrections are meant to rinse the weak hands. Think of a correction as a stream of water from a hose. Think of investors as shit stuck to the concrete, being pelted by the water from the hose. The water pressure (correction pressure) begins pelting the shit (investors) and little pieces of shit are rinsed away. As the water pressure increases, more shit is rinsed from the concrete. Eventually, the water pressure will reach a maximum and only the pieces of shit that are deeply embedded within the concrete will remain. That is exactly what is happening here. The correction pressure is almost at a maximum. Soon, only the strong pieces of shit will remain.
For now we wait. Our activity is at a minimum. We're adding tiny bits of IWOV as the day goes on. We're not selling, we're not shorting. Of course, we're taking a serious beating, but we're not bothered in the least bit. We know the Nasdaq will be at new highs within a few months, we know that the tech revolution is not over, and we know that quality companies like IWOV and CMRC will survive this debacle. We remain bullish until we see a decided change in fundamentals.
The choice is yours to make. Are you a deeply embedded piece of shit? Or are you a piece of shit that is going to be rinsed, never to be heard from again? Hope we've managed to lighten up your day.....ciao.
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